Company Formation Wiltshire

It’s very important to realise that a Limited Company is a separate legal entity from its owners. This applies regardless of whether it is a very large multi-million pound international company or whether it has a sole shareholder with £1 share capital. This is a key point to remember as it has some very important implications for the company, its directors and its shareholders.

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Company Formation Salisbury

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john nuth accountants wiltshire

Forming a Company

A company can be formed relatively easily. However, what can take time is deciding on the rules that the company will adopt to govern its day to day running. Many rules are set by legislation, and many of the rules are simply decided upon by the company itself. Fortunately each new company does not need to decide everything on day one as the Companies Act 2006 has standard sets of rules (the Articles of Association) that may be adopted. However, time will need to be invested in reviewing these articles to ensure that they are appropriate for the company. The larger and more complex the company structure is, the more time should be invested and legal advice should be sought were uncertain. However for many small companies the model articles will be perfectly acceptable and may be altered at a later date if necessary.

Apart from the above point the process involved with forming a company is quite straight forward and can often be formed within 48 hours at a very low cost.

How does this affect you?

What are the pitfalls and benefits?

Deciding on whether a company structure is right for you can be difficult and will depend on may factors, for instance, the desire for limited liability, the convenience of a company wrapper, the plans for the business, taxation etc.

The single biggest advantage of a company structure is limited liability. This means that in nearly all circumstances the financial exposure of the owners of the company is limited to the amount of share capital held.

However with a company comes some additional administration e.g. a requirement to file Statutory Accounts each year with Companies House. An unincorporated trade is also likely to require properly prepared accounts for tax purposes but the requirements tend to be lower in terms of notes and disclosures, and these tend to be less expensive to produce. The cost associated with these accounts will vary depending on the size and complexity of the company but can be quite low for a simple sole shareholder/director structure.

How can John Nuth help?

We work with a number of limited companies ensuring that statutory accounts and returns are properly prepared and tax liabilities accurately calculated. We work closely with clients to ensure that the whole process is as efficient as possible
We can advise and help with:

  • Incorporating the company for you
  • Registering the company with HMRC
  • Correspondence with Companies House to ensure an effective registration
  • Completion of the regulatory documents and requirements
  • The ongoing administration and obligations required by the Companies Act and ensure that the business remains compliant with all its legal and regulatory obligations

If you would like to find out more then please give us a call on 01985 850622 or you can email us at us at info@johnnuth.co.uk.